I think it's important if you plan to run in cool weather. To give you an idea. My coolant temps got down to 125-130 on the way to the optima challenge this year with a high flow t stat. While I realize this is coolant, they are known for not closing accurately after opening. It's in front of the radiator and could really cool off the oil. With my old block I was going to simply run a manual valve for the oil cooler since the block was plumbed for a seperate oil cooler. I'm not sure if that's an option for you but it's not a bad idea.
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Todd
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